TOKYO: The Japanese economy - the world's second largest -  is officially shaky following the release of latest government figures which show GDP contracted a worse-than-expected 0.7% in Q2.

Pressure on exports, the rising costs of raw materials and oil price hikes resulted in the worst economic performance for seven years during the three months to June.

However, analysts expect the third quarter to show some improvement, although further weakening cannot be ruled out.

Data sourced from Sydney Morning Herald; additional content by WARC staff